Directors have the option to trade their company out of financial difficulty without the fear of being personally liable for insolvent trading, if they meet the requirements of the insolvent trading safe harbour provisions in the Corporations Act. Importantly, the safe harbour provisions are only accessible if the company engages suitably qualified Restructuring Advisors such as those from William Buck’s Business Recovery Services team.

Utilising the extensive expertise and resources of William Buck’s full service advisory firm, we provide exceptional safe harbour and turnaround advice to all size companies from all industries. Working with a team of our experts, hand-picked for each safe harbour engagement, our clients receive tailored advice and assistance on their specific issues to achieve the best possible outcome in their current financial circumstance. Seeing a business through troubled waters can be a simple engagement or it can require more complex assistance to execute an effective turnaround solution – our advisors will help you determine what level of support you need to succeed.

Avoiding insolvency is paramount to a business’s success but sometimes circumstances prevail in which there is uncertainty as to whether a company continues to be solvent. The risk for directors during this time is significant and without proper guidance the outcomes can be disastrous. We have a proven record in advising businesses under the safe harbour provisions and have helped many companies avoid insolvency and put the available protections in place to limit directors personal risk during that time.

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All the Latest From Our Business Recovery Team

When is a trustee’s work done? A registered trustee’s perspective

Posted By chloe on 20/12/2019 04:23:29 am

This article was originally published in the Australian Financial Security Authority PIR Newsletter on 4 December, 2019 (Volume 17, Issue 4). Registered trustee Sean Wengel…

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With great 'creditor' power comes great 'external administrator' responsibility

Posted By chloe on 25/11/2019 05:47:36 am

Over two years ago, on 1 September 2017, new powers were granted to creditors in external administrations. William Buck welcomed the increased transparency to external…

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The 7 red flags of illegal phoenixing

Posted By chloe on 16/08/2019 12:07:08 am

Illegal phoenix activity involves the process of deliberately liquidating a company to defeat creditors. A company’s assets are stripped and then transferred with minimal consideration,…

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Unfair preference payments- protect yourself from the void

Posted By chloe on 03/06/2019 05:50:33 am

What are unfair preference claims? A preference is defined as where a creditor receives payment and the payer is insolvent at the time, and the…

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